Can I retire at age 61 with 620,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$51,199$50,743$50,298$49,864$49,440$48,441
2 years$25,346$24,874$24,417$23,973$23,543$22,541
3 years$16,730$16,255$15,799$15,360$14,936$13,963
4 years$12,422$11,949$11,498$11,066$10,653$9,715
5 years$9,838$9,369$8,923$8,500$8,098$7,199
6 years$8,116$7,650$7,211$6,797$6,408$5,548
7 years$6,887$6,425$5,992$5,588$5,211$4,391
8 years$5,965$5,507$5,082$4,688$4,323$3,542
9 years$5,249$4,795$4,377$3,993$3,641$2,898
10 years$4,676$4,226$3,816$3,442$3,102$2,398
11 years$4,207$3,763$3,360$2,996$2,668$2,000
12 years$3,817$3,377$2,982$2,628$2,312$1,681
13 years$3,488$3,052$2,664$2,320$2,016$1,420
14 years$3,205$2,774$2,393$2,059$1,767$1,205
15 years$2,961$2,534$2,161$1,836$1,556$1,026
16 years$2,747$2,325$1,959$1,644$1,375$877
17 years$2,558$2,141$1,783$1,477$1,219$752
18 years$2,391$1,979$1,627$1,331$1,084$645
19 years$2,242$1,834$1,490$1,203$966$555
20 years$2,107$1,704$1,367$1,090$863$478
21 years$1,986$1,587$1,258$989$772$413
22 years$1,875$1,482$1,159$899$692$357
23 years$1,775$1,386$1,070$819$622$308
24 years$1,683$1,298$990$747$559$267
25 years$1,598$1,218$917$682$503$231
26 years$1,521$1,145$850$624$453$200
27 years$1,449$1,078$790$571$408$174
28 years$1,382$1,016$734$523$368$151
29 years$1,320$958$683$480$333$131
30 years$1,262$905$636$440$301$114
31 years$1,208$855$593$404$272$99
32 years$1,158$809$553$372$246$86
33 years$1,110$766$517$342$222$75
34 years$1,066$726$483$314$201$65
35 years$1,024$689$451$289$182$56
36 years$985$654$422$267$165$49
37 years$948$621$395$246$150$43
38 years$912$590$370$226$136$37
39 years$879$561$347$209$123$32
40 years$848$534$325$192$112$28
41 years$818$508$305$178$101$24
42 years$789$484$286$164$92$21
43 years$762$461$268$151$83$18
44 years$737$440$252$140$76$16
45 years$712$419$236$129$69$14
46 years$689$400$222$119$62$12
47 years$667$382$209$110$57$11
48 years$645$364$196$102$51$9
49 years$625$348$184$94$47$8
50 years$605$332$173$87$42$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 61 starting with $620,000, adding $6,640 every year, while hoping to spend $38,217 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 36/38/26 Blend
60$620,000$620,000$620,000$620,000
61$690,089$657,229$647,619$709,340
62$719,816$648,771$628,652$715,708
63$751,293$638,617$607,768$718,619
64$784,661$626,645$584,864$721,013
65$820,069$612,723$559,829$722,871
66$857,682$596,713$532,550$724,171
67$897,682$578,468$502,907$724,895
68$940,267$557,834$470,776$725,026
69$985,652$534,646$436,025$724,549
70$1,034,076$508,731$398,518$723,452
71$1,085,796$479,904$358,114$721,728
72$1,141,099$447,971$314,662$719,371
73$1,200,297$412,726$268,009$716,383
74$1,263,731$373,954$217,990$712,767
75$1,331,776$331,422$164,438$708,538
76$1,404,846$284,890$107,175$703,713
77$1,483,391$234,101$46,016$698,320
78$1,567,908$178,783$0$692,397
79$1,658,942$118,651$0$691,333
80$1,757,092$53,402$0$703,817
81$1,863,014$0$0$717,204
82$1,977,431$0$0$738,872
83$2,101,137$0$0$786,512
84$2,235,005$0$0$838,138
85$2,379,993$0$0$894,129
86$2,537,155$0$0$954,901
87$2,707,652$0$0$1,020,914
88$2,892,758$0$0$1,092,672
89$3,093,877$0$0$1,170,729
90$3,312,550$0$0$1,255,696
91$3,550,476$0$0$1,348,244
92$3,809,521$0$0$1,449,113
93$4,091,741$0$0$1,559,116
94$4,399,398$0$0$1,679,149
95$4,734,980$0$0$1,810,196
96$5,101,227$0$0$1,953,343
97$5,501,154$0$0$2,109,784
98$5,938,082$0$0$2,280,834
99$6,415,664$0$0$2,467,941
100$6,937,924$0$0$2,672,697